Individuals



Client Information
Gender
Title
Residential Address
Contact Information
Bank Information
Starting from the left side, enter your 12 digit banking account number stated under your banking debit card number.
Caution: Kuwait Finance House is not responsible for International Banking Account Number (IBAN) generated as a result of entering wrong banking account number. Kindly, make sure to enter your correct banking account number.

Trading Service Agreement-KFH Trade

This agreement was made between :

• KFH Capital Investment Company K.S.C(Closed) whose address is at P.O. Box 3946 Safat 13040 Kuwait. hereinafter referred to for the purposes of this agreement as “the Company”

Preamble

Whereas the Customer wishes to trade in shares and financial instruments of companies listed on stock exchanges in Kuwait ,Arab region and the world, and also in commodities & currency market in accordance with Islamic Sharia law. Wishes to appoint MIC as agent for providing him with trading, execution, clearing and settlement services. And whereas the Company accepts the appointment for performing the execution, clearing and settlement services for shares traded by the Customer according to the terms and conditions hereinafter set forth.
KFH Capital Investment KSC(Closed) shall provide the conditions and the provisions governing the customer's account for trading and apply to all the terms and provisions of this Agreement to all transactions conducted on the trading account or online via the company's website - www.kfhtrade.com or any other channels.

  1. 1- Definitions
    • 1.1 The following terms when used in this agreement shall have the meanings set out below:
      Agreement: this summary, together with application form, general terms and conditions for trading service agreement and appendices.
      The “Customer” or the “Investor”: shall mean every person, natural or juridical who submits a request approved by the Company for opening an trading account.
      The “Authority”: The financial markets authority in Kuwait & surroundings shall mean the authority that supervises or regulates and issues the licenses for the financial markets and brokers in the State.
    • 1.2 this agreement shall be interpreted in accordance with the interpretation provisions of general terms and conditions for trading services and appendices.
  2. 2- Laws, rules and regulations relating to this Agreement:
    • 2.1 All transactions between the client and the company will be subject to all laws prevailing in the markets (Kuwait - Gulf - Arabic - foreign) on processes that are carried out including all kind of options contracts which does not contradict with Islamic Sharia rules, taking into consideration that dealing with these markets will be through the company directly from the Customer. The company will not be responsible in any way of the conditions to the customer for any action by any authority of any kind. (Government – civil or other relevant parties).
    • 2.2 The customer agrees to the terms and provisions of this Agreement, and is used for the web site and / or utilize the services provided by the company in recognition of this progress.
  3. 3- Agreement Unity
    • This Agreement shall be regarded as one unified unit and cannot be divided. All terms, conditions, obligations and appendices of this Agreement constitute material obligations binding upon both parties.
  4. 4- Read and Agree to the Terms and Conditions
    • The Customer acknowledges that he has read, familiarized and aware of the content of the terms and provisions of this Agreement and agreed to everything in which he said has received a copy of these Terms and Conditions.
  5. 5- Amendment of the Agreement
    • In the event where any changes are made to the existing Exchange Regulations of the Exchange by the Exchange or the Authority, the Company shall have the right to amend the terms and conditions of this Agreement or any special conditions appended hereto to match the amendments made to the Exchange Regulations, and without giving a prior notice thereof to and obtaining the consent of the Customer. Such amendments to the Agreement shall be effective immediately.

      The Customer realizes that the Company may make any amendments to this Agreement at any time by adding additional terms and conditions to this Agreement and / or cancelling any terms and conditions here from, by stating and giving notice of those amendments and the effective date thereof on the electronic Portal of the Company and giving notice thereof by electronic mail at the electronic mail address provided to the Company. The Customer acknowledges that he shall be bound by those amendments if he uses KFH Trade after the date of making those amendments.

      In the event where the Customer does agree to any terms and conditions in the amended agreement, he shall notify the Company thereof immediately by letter and immediately discontinue any use of the KFH Trade except for what is necessary for closing his Trading Account. The Customer agrees that any use of the KFH Trade after the introduction of the amendments to this Agreement or the amendments to the Service shall be interpreted as an acceptance by him of the amendments whether he actually was aware of them or not, and, accordingly, he shall be legally bound by those amendments although he has been unable to access the text of this Agreement or the amendments hereto.
  6. 6- Entire Agreement, Modifications
    • This Agreement constitutes the entire agreement between the parties regarding this subject matter and supersedes each previous Agreement between MIC and customer. Either party may only modify this Agreement in accordance with the provisions of the General Terms and customer.
  7. 7- Termination of the Agreement
    • 7-1 The Customer declares that the Company has the right to terminate this Agreement and close the account the Customer at any time at its absolute discretion and notify the Customer thereof in writing or by electronic mail within ten (10) days from the date of terminating the contract.

      The Customer further declares that it is aware of and knows that, upon the termination of the Agreement, some time may pass before completing the transfer of the Securities contained in the Trading Account belonging to companies listed on the Kuwait Stock Exchange. With regard to securities contained in the Trading Account and belonging to companies listed outside the State of Kuwait, the Customer declares that the Company may freeze the Trading Account of the Customer so that the Customer will only be able to sell those Securities and draw the cash funds resulting from the sale until all those Securities have been sold and the cash funds have been drawn and the Trading Account closed, after deduction of all the fees, expenses and costs and the amounts due to the Customer in addition to any financial claims or penalties incurred by the Company as a result of the instructions given by the Customer.

      The Customer further declares that the Company will not be liable for any losses, damages, claims or lost opportunities that the Customer may suffer as a result of termination of this Agreement by the Company, transfer of the Securities, freezing of the account or closing of the Customer’s Trading Account with Company.

      7-2 Clearance: The right of the Company - in the case of a breach of the Customer of any of its obligations under this Agreement - and by its absolute and without prior notice to the client to notify any stock exchange or other market to close and liquidate the account and terminate any agreement with the client and the sale of assets as well as to eliminate any list of orders or contracts or other securities, nor will the customer is then able to reach to the system. There must be enough cash in the account and be ready immediately to pay the Company which would automatically settle all accounts (whether individual accounts or joint) and transactions and any account remaining after full recovery by the Company of their rights must be restored by the Customer, who is accountable to the Company the value of all expenses legal and other professionals.
  8. 8- Governing Law; Language; Dispute Resolution
    • 8.1 This Agreement shall be governed by, and construed in all respects in accordance with, the laws of Kuwait and does not contradict with Islamic Sharia.

      8.2 This Agreement is made in the Arabic language with a translation into English. In case of any dispute over the interpretation of the Agreement, the Arabic version shall prevail.

      8.3 In case any dispute arises from interpreting or executing this Agreement, both parties should cooperate to resolve the dispute. If no settlement has been agreed, the dispute will be resolved in accordance with arbitration systems and procedures of Kuwait.

Know Your Customer KYC form (Individuals)

Employment Information

Profession

Income Information (You can select more than one item):

Sources of Income
Average Annual Income
Approximate Wealth

Investment & Indicators Information (You can select more than one item):

Investment Experience
Investment Awareness
Investment Objectives & Strategy
Appetite of Risk
Requested Investment Asset Class
Invested Amount
Expected Activity to Account
Declaration Information:

If you are a member of the board of directors or have an access to the financial statements and inside information of any of companies listed in Boursa Kuwait or any other financial markets, please list them below

Information of the Real Beneficiary of Account:

Do you trade for your own account or on behalf of other parties?

Political Position Information (if any)

If you are politically exposed, please specify your position
If any of your direct relatives (Second degree) or associates (Partner, Advisor, Agent…) is holding a politically exposed, please specify his/her position
* High risk politically exposed person “PEPs” is any person, who has or had, or seeks to have, or is nominated for, public position in a foreign country (This applies to nonresident persons in Kuwait)

Additional Information

Do you trade in Kuwait Boursa through another Company / Broker?
Do you trade in other Stock Markets?

Client Classification*

In compliance with the instructions issued by the regulatory authority, you are kindly requested to specify your classification whether you are a regular client, a professional client by nature or a qualified professional client by checking on of the criteria that you you feel accurately reflects your choice to be assigned to this classification

Professional Client by Nature
OR

Qualified Professional Client (the client declare her/his acceptance of the implications of this classification mentioned in the below appendix)

OR
Appendix: Effects, Advantages and Constraints of Classification as a Qualified Professional Client

I. When the company deals with a qualified professional client, the company is not required to provide the client with the following:
• Notify the client of the competent courts and applicable law in the event of any dispute relating to the customer’s cash assets and money outside the State of Kuwait.
• Notify the client of any right to her/him or others in the custody of the assets and assets of the clients deposited with the company or with third parties.

II. The possibility of investing in products aimed at professional clients such as subscription to private placement funds.

III. Option to change classification
• Clients initially classified as professional clients are allowed to request that they be treated as ordinary customers by submitting a written request to the company. The client who is classified as a professional client is solely responsible for requesting classification as an ordinary clientwhen he is not in a position to assess and manage the risks involved in transactions accurately.
• The company is entitled to change the client’s classification from a qualified professional to a regular client if the client loses the criteria for classification. In this regard, the company informs its clients of their rights related to changing their classification and the consequences thereof.
• The change in classification does not affect the actions and processes that have been classified in a certain manner.
• The Company reserves the right to reject any of the above requests for a different classification.

Customer’s Details (Natural Persons) and Individual Tax Residency Self-Certification Form
Residential Address

Do you have International mailing/ residential address outside Kuwait (if applicable)?

Do you have an International telephone number outside Kuwait (if applicable)?

Have you given permanent instructions to transfer any amounts to an account?

For permanent instructions to transfer funds, we recommend to add a field to identify the Country receiving such funds

Country/Jurisdiction of Residence for Tax Purposes and related Taxpayer Identification Number or equivalent number* (“TIN”) See Appendix

If the Account Holder is tax resident in more than three countries/jurisdictions, please use a separate sheet. If a TIN is unavailable please provide the appropriate reason A,B or C where indicated below:

Reason A - The country/jurisdiction where the Account Holder is resident does not issue TINs to its residents


Reason B – The account holder is otherwise unable to obtain a TIN equivalent number (Please explain why you are unable to obtain a TIN in the below table if you have selected this reason)

Reason C - No TIN is required. (Note. Only select this reason if the domestic law of the relevant jurisdiction does not require the collection of the TIN issued by such jurisdiction)

Please explain in the following boxes why you are unable to obtain a TIN if you selected Reason B above
Determining the place of residence for tax reasons

Are you an American Citizen? (If yes, please provide us with Form W-9 and your Taxpayer Identification Number (TIN))

Declarations and Signature

I understand that the information supplied by me is covered by the full provisions of the terms and conditions governing the Account Holder’s relationship with KFH CAPITAL setting out how KFH CAPITAL may use and share the information supplied by me.

I acknowledge that the information contained in this form and information regarding the Account Holder and any Reportable Account(s) may be provided to the tax authorities of the country/jurisdiction in which this account(s) is/are maintained and exchanged with tax authorities of another country/jurisdiction or countries/jurisdictions in which the Account Holder may be tax resident pursuant to intergovernmental agreements to exchange financial account information. I certify that I am the Account Holder (or am authorized to sign for the Account Holder) of all the account(s) to which this form relates.

I declare that all statements made in this declaration are, to the best of my knowledge and belief, correct and complete.

I undertake to advise KFH CAPITAL within 30 days of any change in circumstances which affects the tax residency status of the individual identified in Part 1 of this form or causes the information contained herein to be come in correction complete, and to provide KFH CAPITAL with a suitably updated self-certification and Declaration within 30 days of such change in circumstances, without the least liability on the Company regarding my declared details.

FI, the undersigned, hereby certify that the provided information is true, correct and complete, as well as the submitted documents, and I further undertake to inform KFH Capital Investment Company (KFHC) in writing of any changes to such information, and update it whenever requested or annually, without any responsibility to KFH Capital.

I hereby confirm the validity of the data provided to the Company and on the basis of my optional classification I am aware of my type of classification at KFH Capital. If I fail to comply with one of these criteria, I hereby undertake to notify KFH Capital for this standard immediately.